Compliance & Risk Management

8 reasons why business email compromise is a risk for trustees

[Australasian Law Management Journal,Compliance & Risk Management,General Management,Technology] March 13, 2022

Business email compromise is an insidious and increasingly common means of fraud that poses a threat to any businesses, especially law firms, that act as trustees in large transactions, writes Simone Herbert-Lowe. An increasing risk exposure for lawyers and law firms involves business email compromise (BEC). BEC typically occurs where an email account (either the […]

Professional independence – can you spot when yours is at risk?

[Australasian Law Management Journal,Compliance & Risk Management,General Management,Strategy & Leadership] March 3, 2022

Following professional conduct rules may seem straight forward, but it’s easy for solicitors to miss the red flags which can jeopardise their career, writes Annette Beashel. A solicitor has an obligation to retain professional independence when acting for a client and this ties into various other obligations under professional conduct rules. It seems like a […]

The top 5 professional negligence risks (and how to future-proof your firm)

[Australasian Law Management Journal,Compliance & Risk Management,Finance & Accounting,General Management,Strategy & Leadership] July 5, 2021

With professional indemnity claims forecast to rise in a COVID-19-afflicted world, Annette Beashel identifies the key risks facing law firms and outlines strategies that firms can implement to safeguard their practice. Professional indemnity insurers around the world are concerned that there will be a rise in PI claims as a result of the pandemic. Three […]

Sexual harassment in the legal industry: are we improving?

[Australasian Law Management Journal,Compliance & Risk Management,General Management,People Management(HR),Strategy & Leadership] May 30, 2021

Besides taking the typical risk-mitigation steps to manage sexual harassment complaints in the workplace, law firm managers need to pursue a series of actionable measures to stamp out such troubling incidents, writes Leonie Green. We are told that one in four women experience sexual harassment at work, while working  within the Australian legal industry. That […]

ESG risk management – why law firms of all sizes should act now

[Australasian Law Management Journal,Compliance & Risk Management,General Management,Strategy & Leadership] March 25, 2021

Law firms ignore ESG risks at their peril and should, in fact, embrace this area of compliance as a potential point of competitive advantage for their business and implement a well-considered strategy that contributes to sustainability, writes Annette Beashel. The area of compliance known as ESG (environmental, social and governance) is a hot topic and […]

Waking up to ‘woke’ – analysing the MinterEllison email conflict

[Australasian Law Management Journal,Compliance & Risk Management,General Management,Marketing & Business Development,Strategy & Leadership]

Controversy surrounding MinterEllison and its decision to advise Attorney-General Christian Porter raises questions about law firms’ client selection processes and the impact those choices could have on recruiting millennial and Gen Z talent in the years to come, writes Trish Carroll. A lot has been written in recent weeks about the email matter involving now-ex […]

Risk training – you have to do it, but are you wasting your time and money?

[Australasian Law Management Journal,Compliance & Risk Management,General Management,People Management(HR),Strategy & Leadership] October 30, 2020

There is a clear role for risk-management training to contribute to better performance and culture within law firms, but it has to be part of a broader risk and compliance framework, writes Annette Beashel. There is a lot of money, time and effort being spent on risk training for law firms. Most continuing legal education […]

Social engineering – the human factor in cyber risk

[Australasian Law Management Journal,Compliance & Risk Management,General Management,People Management(HR),Technology] September 23, 2020

Staff training to raise awareness of cybersecurity threats is essential for law firms at a time when scammers are using sophisticated social engineering strategies to steal data and carry out fraud, writes Simone Herbert-Lowe. Cybercrime is predicted to lead to the biggest transfer of wealth in human history. In Australia, cybersecurity incidents are estimated to […]

Why delegation and supervision should be on your firm’s agenda

[Australasian Law Management Journal,Compliance & Risk Management,General Management,Strategy & Leadership] June 27, 2020

Supervision requirements are often seen as a drain on potential fee-earning within law firms, but it is a legal requirement that can deliver real value and advantages if done correctly, writes Merinda Timpany. We know why we need to supervise our teams, but sometimes it is easier said than done. That challenge has become even […]

Home truths for all after ransomware attack hits celebrity law firm

[Australasian Law Management Journal,Compliance & Risk Management,General Management,Technology] May 28, 2020

A potentially costly ransomware attack on a major American law firm is a reminder for all firms to educate their employees about cyber risks at a time when more people are working on unsecured home networks during the COVID-19 crisis, writes Simone Herbert-Lowe. In recent months, the media has reported extensively on cyberattacks targeting companies […]